By G.B. Taken

As tens of thousands of Americans file Chapter 13
each year
in hopes of saving their homes, they do so without all the facts from
the bank.
A recent research paper by *Professor Katherine Porter reveals that
frequently,
banks do not provide homeowners an accurate statement of their accounts
before
(or after) the debtors are forced into bankruptcy.

The problem with this is, if a homeowner does not
know how
much is owed on their mortgage then they are making life-changing
decisions
without the most important facts. As Professor Porter points out, a
homeowner
may have made a different choice had they known the true amount of the
debt.
Debtors may have borrowed from family, friends or another source to get
the
account up-to-date instead of going through court.

Often banks do not comply with requests for an
accurate
statement of an account. If you make a written request for a statement,
they
must reply. Be sure to send the letter to your bank via certified mail.
If the
bank does not comply, file a complaint with your state attorney general
and
request they get the info for you.

In my own situation, even after I received a
statement of my
account no one could understand how much was owed and for what. This
problem
infests both civil and bankruptcy courts as servicing companies offer
very few
examples of good, or accurate, accounting. Even after the legal process
of
discovery and a resulting jury trial, I still have not seen an accurate
statement of my account. The same may be true for you.